Aventon Unveils Tampa Luxury Apartments
The announcement comes as the company assembles a $2 billion portfolio around the South and Mid-Atlantic.
Aventon Cos. has announced its planned development of Aventon Meadow Pointe, a 360-unit luxury apartment community located at 4747 Meadow Pointe Blvd. in Wesley Chapel, Fla. The community is expected to be ready for leasing in 2024.
Aventon Meadow Point’s building exteriors were designed by Scott + Cormia, with Beasley & Henley heading the property’s interior design. The community, which CommercialEdge data shows as being built on 38 acres, will offer a mix of one-, two- and three-bedroom units, all of which feature high-end finishes, furnishings and materials. Site-wide amenities include two private lakes, a swimming pool, a game room, lounges, a private office, a fitness center and a dog park. Situated at the east end of Wesley Chapel and adjacent to the Interstate 75 Highway, the development will be within 25 miles of downtown Tampa, as well as several nearby parks and nature preserves.
The announcement takes place as Aventon assembles a $2 billion, 9,000-unit multifamily portfolio around the South and Mid-Atlantic regions. Recent announcements in these markets include the groundbreaking of Aventon Opal, a 308-unit market-rate community in nearby Orlando, as well as development of Aventon Exchange in Atlanta, a 300-unit Class A community being built on a newly acquired 16-acre lot.
Tampa remains a top-tier metro for multifamily construction and investment, and the luxury segment is expanding at a rapid pace, with 16,939 units under construction as of May 2022, according to a July report from Yardi Matrix. On a larger scale, the city has seen nearly $3 billion in transactions over the first half of the year, data from the report shows.
Acknowledging the city’s multifamily strength and prosperity, Aventon Senior Director Sean Flanagan said in prepared remarks, the Tampa is one of the fastest-growing populations in the country and is also one of the most underserved communities in terms of housing. Strong apartment demand and limited supply additions in the Wesley Chapel submarket have compressed multifamily vacancy rates to a tight 4.7 percent.